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HASIHA Sustainable Infrastructure Capital, Inc.
$36.21$4.6B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
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Income StatementBalance SheetCash FlowRatios & Margins
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HASI logo

HA Sustainable Infrastructure Capital, Inc.

HASI
NYSE · Diversified Financial
$36.21
At close - Sep 23, 4:00 PM EDT - USD
Market Cap$4.63B
P/E25.7x
52W High$44.13
Volume915.38K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Negative NIM and Fee Reliance Undermine Core Earnings Sustainability

HASI's investment thesis is challenged by a persistent negative net interest margin, which stood at -0.2% in Q2 2026, indicating a fundamental asset-liability mismatch where the yield on its $4.9B investment securities portfolio fails to cover funding costs. P...

GrowthMixed
ProfitabilityStrained
ValuationExpensive
TechnicalsWeak
Explore valuation models
MARKET ACTION

HASI price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

8/12 Beats

EPS beat 8 of last 12 quarters

02

Valuation risk

+100% Peers

P/E is 100% above peer median

03

Market leadership

RS 49 · Lag

Laggard (Underperforming 51% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystConfirmed earnings · Nov 5

Market performance

Price History →

Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
HASI+16.47%
S&P 500 (^GSPC)+12.39%
1-Year Return
HASI+28.96%
S&P 500 (^GSPC)+15.77%
3-Year Return
HASI+75.50%
S&P 500 (^GSPC)+75.20%
5-Year Return
HASI-22.94%
S&P 500 (^GSPC)+69.00%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/EMedian
25.7x
Forward P/EExpansion
12.0x
EV/EBITDA
N/A
FCF YieldCash Flow
4.9%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
25.7x
22.3x
60th· Fair
EV/EBITDA
N/A
46.7x
N/A
Price/FCF
20.4x
30.3x
33rd· Fair
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
No DCF Model AvailableIntrinsic value modeling is not supported for this equity.

Growth & profitability

Annual revenue & EPS trend
Revenue
$108M-72.2% YoY
Net income
$185M-7.7% YoY
Free cash flow
$227M+3774.5% YoY
Operating margin
-25.1%-95.5 pts YoY
ROIC (TTM)-0.3%
Avg ROIC 5Y-
ROE (TTM)7.3%
Piotroski Score5 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate8/12 (67%)
Revenue Beat Rate12/12 (100%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 6, 2026
$0.75+2.6%
vs $0.73
$121M+7.9%
vs $112M
Q2 2026
May 7, 2026
$0.77+13.2%
vs $0.68
$124M+10.7%
vs $112M
Q1 2026
Feb 12, 2026
$0.67+1.5%
vs $0.66
$115M+8.4%
vs $106M
Q4 2025
Nov 6, 2025
$0.80+15.9%
vs $0.69
$228M+692.1%
vs $29M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Seeking Alpha·5d ago
3 Dividend Investing Opportunities To Profit From AI

AI winners are not limited to low-yielding tech stocks. Alternative asset managers are funding the data center boom. Energy companies and REITs may quietly benefit too.

Business Wire·Sep 10, 2026
Invenergy and HASI Expand Partnership to Support 2.7 GW Portfolio of Solar, Solar-Plus-Storage, and Wind Projects Across the U.S.

ANNAPOLIS, Md. & CHICAGO--(BUSINESS WIRE)--Invenergy, North America's largest privately held developer, owner and operator of independent power infrastructure, and HA Sustainable Infrastructure Capital, Inc. (“HASI”) (NYSE: HASI), a leading investor in sustainable infrastructure assets, today announced the closing of a strategic equity partnership supporting a 2.7-gigawatt portfolio of select Invenergy projects across the United States, including utility-scale solar, solar-plus-battery storage,.

Defense World·Sep 10, 2026
HA Sustainable Infrastructure Capital, Inc. $HASI Shares Sold by Amundi

Amundi lessened its holdings in HA Sustainable Infrastructure Capital, Inc. (NYSE: HASI) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,388,998 shares of the real estate investment trust's stock after selling 33,221 shares during the quarter. Amundi owned 1.86%

247 Wallst·Sep 4, 2026
Here Are Friday’s Top Wall Street Analyst Research Calls: Ambarella, Cal-Maine Foods, Lennar, Ormat Technologies, Paychex, PulteGroup, Shell plc, TotalEnergies, W.P. Carey, and More

Wall Street wrapped a turbulent week with a wave of upgrades and downgrades hitting energy giants, homebuilders, and tech names just ahead of the Labor Day weekend. Find out which stocks analysts are rushing to buy and which ones just lost their support.

Filtered for HA Sustainable Infrastructure Capital, Inc.More Headlines
04

Compare before deciding

Benchmark HASI against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for HA Sustainable Infrastructure Capital, Inc. (HASI)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
HASI logoHASIHA Sustainable Infrastructure Capital, Inc.Current
$36.21$4.63B25.68-72.22%170.72%7.29%4.19%
CSWC logoCSWCCapital Southwest Corporation
$23.15$1.44B12.1864.73%48.19%11.04%—
ARCC logoARCCAres Capital Corporation
$19.15$13.75B10.30-11.83%45.18%6.78%—
GBDC logoGBDCGolub Capital BDC, Inc.
$12.45$3.24B8.7744.68%20.51%3.82%—
TPVG logoTPVGTriplePoint Venture Growth BDC Corp.
$4.92$199.75M4.0355.25%45.97%10.97%—
BEP logoBEPBrookfield Renewable Partners L.P.
$29.08$8.9B-431.4510.95%2.28%0.42%—

Compare HASI vs Peers

HA Sustainable Infrastructure Capital, Inc. (HASI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs CSWC

Most directly comparable listed peer for HASI.

Scale Benchmark

vs NEE

Larger-name benchmark to compare HASI against a more recognizable public peer.

Peer Set

Compare Top 5

vs CSWC, ARCC, GBDC, TPVG

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

HASI SEC Filings & Documents

HA Sustainable Infrastructure Capital, Inc. (HASI) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 6, 2026·SEC

Material company update

Jul 20, 2026·SEC

Material company update

Jun 26, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 13, 2026·SEC

FY 2025

Feb 14, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 7, 2026·SEC

FY 2026

May 8, 2026·SEC

FY 2025

Nov 7, 2025·SEC

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HASI Frequently Asked Questions

HA Sustainable Infrastructure Capital, Inc. (HASI) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
How fast is HA Sustainable Infrastructure Capital, Inc. growing?

HA Sustainable Infrastructure Capital, Inc. (HASI) saw revenue decline by 72.2% over the past year.

Is HASI profitable?

Yes, HA Sustainable Infrastructure Capital, Inc. (HASI) is profitable, generating $86.2M in net income for fiscal year 2025 (170.7% net margin).

Dividend & Returns
Does HASI pay dividends?

Yes, HA Sustainable Infrastructure Capital, Inc. (HASI) pays a dividend with a yield of 4.19%. This makes it attractive for income-focused investors.

What is HASI's return on equity?

HA Sustainable Infrastructure Capital, Inc. (HASI) has a return on equity (ROE) of 7.3%. This is below average, suggesting room for improvement.

Industry Metrics
What is HA Sustainable Infrastructure Capital, Inc.'s net interest margin?

HA Sustainable Infrastructure Capital, Inc. (HASI) has a net interest margin (NIM) of -0.1%. NIM has been under pressure due to interest rate environment.

What is HA Sustainable Infrastructure Capital, Inc.'s efficiency ratio?

HA Sustainable Infrastructure Capital, Inc. (HASI) has an efficiency ratio of 125.1%. This is higher than peers, suggesting room for cost optimization.

What if you invested $1,000 in HASI back in 2011?

Total return calculator · dividends reinvested · 15+ years of data

See returns →